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Session 2 (Phần 2) sẽ ôn lại 2 dạng bài tập quan trọng môn PFE (Chuẩn bị cho tuyển dụng) với chủ đề Leases.
1. Type 1: Lessor/Lessee/Right-of-use asset definition & recognition (IFRS 16 – Leases)
2. Type 2: Lease liability, Right-of-use asset, Depreciation of leased assets
I. Tổng quan
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Topic |
Question types |
Question index |
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MCQ |
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Leases |
1. Lessor/ Lessee/ Right-of-use asset definition & recognition (IFRS 16 – Leases) |
9, 10 |
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2. Lease liability, Right-of-use asset, Depreciation of leased assets |
11, 12 |
II. Dạng bài tập chi tiết:
1. Type 1: Lessor/Lessee/Right-of-use asset definition & recognition (IFRS 16 – Leases)
Importance: Average
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Question 9: IFRS 16 Leases permits certain assets to be exempt from the recognition treatment for right‐of‐use assets. Which of the following assets leased to an entity would be permitted to be exempt? A. A used motor vehicle with an original cost of $15,000 and a current fair value of $700, leased for 24 months B. A new motor vehicle with a cost of $15,000, leased for 24 months C. A new motor vehicle with a cost of $15,000, leased for 24 months, to be rented to customers on a daily rental basis D. A new motor vehicle with a cost of $15,000, leased for 12 months |
Guidance:
Remember: According to IFRS 16 – Leases, assets permitted to be exempted from recognition are:
- Low‐value assets when new
BE CAREFUL, students should not mistakenly consider low-value as current fair value, but the original cost.
- Assets with a lease term of 12 months or less
Answer: D
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Option |
Description |
Low value when new |
12 months or less |
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A |
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No |
No |
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B |
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No |
No |
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C |
No |
No |
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D |
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No |
Yes |
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Question 10: An entity leases a computer with the legal title of the asset passing after two years. The entity usually depreciates computers over three years. The entity also leases a machine for seven years but the legal title does not pass to the entity at the end of the agreement. The entity usually depreciates machinery over ten years. Over what period of time should the computer and machine be depreciated?
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Guidance:
Remember:
Under IFRS 16, leased assets are usually depreciated over the lease term. However, students also need to consider whether the ownership/title of those assets belongs to whom at the end of the agreement.
- If the ownership is transferred to the lessee → assets should be depreciated over their useful life.
- If the ownership remains with the lessor → assets should be depreciated over the lease term.
Answer: C
- The ownership of the computer transfers at the end of the lease, so the computer will be depreciated over its useful life of 3 years.
- The ownership of the machine does not transfer at the end of the lease, so the machine will be depreciated over the lease term of 7 years.
2. Type 2: Lease liability, Right-of-use asset, Depreciation of leased assets
Importance: High
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Question 11: During the year ended 30 September 20X4 Hyper entered into two lease transactions. On 1 October 20X3, Hyper made a payment of $90,000 being the first of five equal annual payments under a lease for an item of plant. The lease has an implicit interest rate of 10% and the present value of the total lease payments on 1 October 20X3 was $340,000. On 1 January 20X4, Hyper made a payment of $18,000 for a one‐year lease of an item of equipment. What amount in total would be charged to Hyper’s statement of profit or loss for the year ended 30 September 20X4 in respect of the above transactions? A. $108,000 B. $111,000 C. $106,500 D. $115,500 |
Guidance:
These are properties that are formed from separate ingredients. Each component is depreciated over its own useful life.
Answer: C
Depreciation of leased plant $68,000 ($340,000/5 years)
Finance cost $25,000 (($340,000 – $90,000) × 10%)
Rental of equipment $13,500 ($18,000 × 9/12)
Total $106,500.
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Question 12: Owl leases an asset with an estimated useful life of 6 years for an initial period of 5 years, and an optional secondary period of 2 years during which a nominal rental will be payable. The present value of the initial period lease payments is $87,000. What will be the carrying amount of the right‐of‐use asset in Owl's statement of financial position at the end of the second year of the lease?
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Guidance:
The year's asset should be depreciated over are the shorter of the useful life and the lease term (including any secondary period)
Answer: $58,000
The asset would initially be capitalized at $87,000. This is then depreciated over six years,
being the shorter of the useful life and the lease term (including any secondary period).
This would give a depreciation expense of $14,500 a year. After two years, accumulated
depreciation would be $29,000 and therefore the carrying amount would be $58,000.